Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 8 March.

Evonik sells superabsorbents business to ICIG to focus on specialties
Germany’s Evonik has signed a deal to sell its superabsorbents business to International Chemical Investors Group (ICIG), a privately-held industrial group headquartered in Germany. ICIG will acquire the entire division with around 1,000 employees and superabsorbent production facilities in Krefeld and Rheinmuenster, Germany, as well as two locations in the US, in Greensboro, North Carolina, and Garyville, Louisiana.

Indorama Ventures will divest, right-size assets and cut costs under revised strategy
Fundamental long-term changes in global chemicals markets have prompted a significant review of strategy, Indorama Ventures said on Monday.

Indorama eyes upstream plant shutdowns with 6 assets under review – Group CEO
Indorama Ventures is reviewing six operating assets in the ‘West’ for potential shutdown as it seeks to boost competitiveness and exit the merchant market for polyethylene terephthalate (PET) feedstocks amid intensifying competition from China, its group CEO and Founder said.

Brazil’s Unigel halts fertilizers production on high natural gas prices
Unigel is to “temporarily stop” nitrogen fertilizers production because of high costs and low prices, effective on Wednesday, the Brazilian chemicals and fertilizers producer said.

Chemours says suspended execs tried to influence cash flows
An internal review showed that top executives at Chemours tried to influence the reporting of the company’s cash flows, the US-based titanium dioxide (TiO2) and fluoromaterials producer said in an update late on Wednesday.

LOGISTICS: Panama Canal to add additional slots in Panamax Locks beginning 25 March
The Panama Canal Authority (PCA) announced on Friday that it will open additional slots in the Panamax Locks beginning 25 March based on the present and projected water levels in Gatun Lake.